BREAKING NEWS: Worthing financial firm announces up to 80 job losses

UP TO 80 redundancies will be made at a Worthing financial services firm after a change in strategy by the company following changes announced in the recent Budget.

MGM Advantage, based in Heene Road, said it was ‘deeply saddened’ by the announcement, which has been made in anticipation of reduced sales of annuities following pensions changes in the Budget.

Chris Evans of MGM said: “Although I am personally deeply saddened by any redundancy, I have a responsibility to lead the business into the best possible shape, ready for the opportunities created by the current market turmoil.”

The redundancies will be managed through natural turnover and voluntary redundancies but the firm has not ruled out compulsory cuts.

It said it remains ‘firmly open for business’ despite the announcement.